DEMACOM: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
DEMACOM
Largest movements
- Receivables after one year +€375,000
new in 2025: €375,000
- Deferred charges and accrued income +€62,535
up €62,535 (+217.7%), from €28,731 to €91,266
- Tangible fixed assets -€49,975
down €49,975 (-4.7%), from €1.1m to €1.0m
of which Land and buildings: -€49,929
- Debts after one year +€640,920
up €640,920 (+202.4%), from €316,682 to €957,602
- Other debts -€284,852
down €284,852 (-87.2%), from €326,605 to €41,753
- Contributions -€100,167
down €100,167 (-66.5%), from €150,601 to €50,434
- Current portion of long-term debt +€88,349
up €88,349 (+71.6%), from €123,467 to €211,816
- Reserves +€39,414
up €39,414 (+16.9%), from €233,512 to €272,925
of which Distributable reserves: +€39,414
- Gross operating margin +€16,240
up €16,240 (+8.1%), from €199,634 to €215,874
- Financial charges +€13,350
up €13,350 (+42.3%), from €31,540 to €44,890
- Taxes +€7,391
up €7,391 (+23.7%), from €31,174 to €38,565
- Depreciation -€5,471
down €5,471 (-8.7%), from €63,033 to €57,562
- Financial income +€3,549
up €3,549 (+67480.0%), from €5 to €3,555
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,171,607 | €1,554,110 | +€382,503 | +32.6% |
| Fixed assets | 21/28 | €1,071,472 | €1,021,497 | -€49,975 | -4.7% |
| Tangible fixed assets | 22/27 | €1,071,472 | €1,021,497 | -€49,975 | -4.7% |
| Land and buildings | 22 | €1,055,417 | €1,005,487 | -€49,929 | -4.7% |
| Plant, machinery and equipment | 23 | €4,992 | €5,909 | +€916 | +18.4% |
| Furniture and vehicles | 24 | €11,063 | €10,101 | -€963 | -8.7% |
| Current assets | 29/58 | €100,135 | €532,613 | +€432,478 | +431.9% |
| Amounts receivable after more than one year | 29 | - | €375,000 | +€375,000 | |
| Trade receivables | 290 | - | €375,000 | +€375,000 | |
| Stocks and contracts in progress | 3 | €45,469 | €45,279 | -€190 | -0.4% |
| Stocks | 30/36 | €45,469 | €45,279 | -€190 | -0.4% |
| Amounts receivable within one year | 40/41 | €12,073 | €7,438 | -€4,635 | -38.4% |
| Trade receivables | 40 | €8,326 | €3,250 | -€5,076 | -61.0% |
| Other amounts receivable | 41 | €3,746 | €4,188 | +€441 | +11.8% |
| Cash at bank and in hand | 54/58 | €13,862 | €13,630 | -€232 | -1.7% |
| Deferred charges and accrued income | 490/1 | €28,731 | €91,266 | +€62,535 | +217.7% |
| Total equity and liabilities | 10/49 | €1,171,607 | €1,554,110 | +€382,503 | +32.6% |
| Equity | 10/15 | €384,112 | €323,359 | -€60,754 | -15.8% |
| Contributions | 10/11 | €150,601 | €50,434 | -€100,167 | -66.5% |
| Reserves | 13 | €233,512 | €272,925 | +€39,414 | +16.9% |
| Tax-exempt reserves | 132 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €223,512 | €262,925 | +€39,414 | +17.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €787,494 | €1,230,751 | +€443,256 | +56.3% |
| Amounts payable after more than one year | 17 | €316,682 | €957,602 | +€640,920 | +202.4% |
| Financial debts | 170/4 | €316,682 | €957,602 | +€640,920 | +202.4% |
| Amounts payable within one year | 42/48 | €468,669 | €271,958 | -€196,711 | -42.0% |
| Current portion of amounts payable after more than one year | 42 | €123,467 | €211,816 | +€88,349 | +71.6% |
| Financial debts | 43 | €3,798 | €5,082 | +€1,284 | +33.8% |
| Credit institutions | 430/8 | €3,798 | €5,082 | +€1,284 | +33.8% |
| Trade debts | 44 | €8,943 | €8,070 | -€873 | -9.8% |
| Suppliers | 440/4 | €8,943 | €8,070 | -€873 | -9.8% |
| Taxes, remuneration and social security | 45 | €5,856 | €5,236 | -€620 | -10.6% |
| Taxes | 450/3 | €5,856 | €5,236 | -€620 | -10.6% |
| Other amounts payable | 47/48 | €326,605 | €41,753 | -€284,852 | -87.2% |
| Accrued charges and deferred income | 492/3 | €2,143 | €1,191 | -€952 | -44.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,033 | €57,562 | -€5,471 | -8.7% |
| Other operating charges | 640/8 | €3,615 | €3,522 | -€93 | -2.6% |
| Gross operating margin | 9900 | €199,634 | €215,874 | +€16,240 | +8.1% |
| Operating profit (loss) | 9901 | €132,986 | €154,790 | +€21,804 | +16.4% |
| Financial income | 75/76B | €5 | €3,555 | +€3,549 | +67480.0% |
| Recurring financial income | 75 | €5 | €3,555 | +€3,549 | +67480.0% |
| Financial charges | 65/66B | €31,540 | €44,890 | +€13,350 | +42.3% |
| Recurring financial charges | 65 | €31,540 | €44,890 | +€13,350 | +42.3% |
| Profit (loss) for the period before taxes | 9903 | €101,451 | €113,455 | +€12,004 | +11.8% |
| Income taxes | 67/77 | €31,174 | €38,565 | +€7,391 | +23.7% |
| Profit (loss) for the period | 9904 | €70,277 | €74,889 | +€4,613 | +6.6% |
| Profit (loss) for the period to be appropriated | 9905 | €70,277 | €74,889 | +€4,613 | +6.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.